Mars and Kellanova anticipate finalising the deal tomorrow (11, December 2025) to create the snacking giant.
This will mean that Kellanova’s portfolio of snacking brands, which includes Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, RXBAR, and Kellogg’s international cereal brands, will join the existing Mars Snacking portfolio, which includes brands such as Snickers, M&M’s, Twix, Skittles, Extra, and Kind.
Mars expects the combined snacking business to generate around $36 billion in annual revenues.
Mars Snacking will continue to be headquartered in Chicago and will now operate in more than 145 markets, with a team of more than 50,000 staff, 80 global production facilities and more than 170 retail outlets like Hotel Chocolat and M&M’S World.
“We are excited to have received final regulatory approval for the pending acquisition of Kellanova,” said Poul Weihrauch, CEO and office of the president of Mars, Incorporated.
“Our focus now turns to welcoming Kellanova employees to Mars and creating an even more innovative global snacking business that delivers greater choice and quality to more consumers around the world.”
Andrew Clarke, global president of Mars Snacking said: “We can’t wait to welcome Kellanova talent to Mars and create a shared, global snacking leader with a beloved range of brands. We’ve said all along that Mars Snacking and Kellanova will be better together, building on the strength of our respective legacies and capabilities to unlock new possibilities and drive growth.”
Steve Cahillane, chairman, president and CEO of Kellanova, added: “This combination will bring together two purpose-driven and principles-led companies. Serving as Kellanova’s chairman, president and CEO has been a true honor, and I’m looking forward to seeing Kellanova people and brands thrive as part of Mars Snacking.”
The parties announced on 14 August, 2024, that they had entered into a “definitive agreement” under which Mars agreed to acquire Kellanova. The pending transaction received Kellanova shareowner approval on 1 November, 2024.
The European Commission (EC) said it conducted a an in-depth investigation. The Commission’s investigation confirmed that both Mars and Kellanova already enjoy a “degree of market power.”
However, the EC evidence collected did not support a finding that the proposed transaction would increase Mars’ bargaining power with retailers.
Teresa Ribera, executive vice-president for Clean, Just and Competitive Transition said: “We looked very carefully at this deal to make sure that Mars would not gain extra power over retailers, power that could lead to for example higher prices for shops and, ultimately, for consumers.
“Our review found no evidence that this risk exists, so we have decided to approve the acquisition. We will continue to make full use of our powers under the Merger Regulation to ensure that competition keeps food prices affordable.”
